Bristol-Myer to Develop a New Biotech Research Facility

The future is here, and Big Pharma is prepared to settle this new and expanding biotech landscape. Bristol-Myer, among several other giants of the industry, are currently in talks to open up new research facilities stocked with brilliant minds. With their sights set on the future and an endless potential for development, what’s in store for us in this bright new world?
According to Fierce Biotech, after recently signing a 15-year contract for their latest research facility, Bristol-Myer has plans to place over 300 researchers in this massive facility. Nestled in Cambridge’s biotech cluster, and offering over 431,500-square-feet of research space, Bristol-Myer is looking to rub shoulders with the science elite. With R&D neighbors from both Cambridge and Harvard, and a host of smaller biopharma companies looking to make a name for themselves, this small patch of ground is primed to be the birthplace of many future biotech discoveries in the fields of genetically defined diseases and molecular discoveries.
However, the rise in demand for Cambridge’s lab space does come with its own backlash. This surge for real estate among the brilliant minds of biotech, AsUnum Therapeutics CEO Chuck Wilson stated, “the demand for this space is driving up the rent prices.” While this may not be a concern for giants like Bristol-Myer, $80 per square foot can be a barrier to entry for start-ups looking to make a name for themselves.
CEO Joel Marcus disagrees with this projection, as stated during Philadelphia’s BIO conference. “The startups today are being way more well funded,” Marcus said. “ And rent is not a major factor in their overall cost and operations. They don’t want to be gouged, and they don’t want to pay something that’s not fair, but as a cost of doing business, it’s not material.” Joel went on to say that the industry’s recent boom has touched all tiers of biopharma, injecting revenue into the stars and startups alike.
Paving the way to a brighter future in biopharma, many companies are racing to the next discovery and for a place to plant their flag. With so many brilliant minds competing in such close quarters, and the electric buzz of innovation hanging in the air, keep your eyes peeled for the future coming from Cambridge labs.